The OTW is a nonprofit corporation, subject to laws and regulations dictating its fiduciary responsibilities to conduct activities in a manner that upholds the public trust. The OTW will be scrutinized not only by its members and fans outside the organization, but also by the IRS and the State of Delaware, our incorporation state.
There are a number of additional safeguards in place. Misuse of OTW funds constitutes fraud and could be subject to prosecution. This operates as a solid deterrent. Distribution of the OTW’s funds will follow generally accepted accounting principles with regard to oversight and authorization of expenditures. The OTW’s financial information is also audited by an independent third party CPA firm every fiscal year. Finally, the OTW is required to file Form 990 with the IRS each year to report the organization’s financial activities.